Fortinet (FTNT) to Announce Quarterly Earnings on Wednesday

Key Points

• Fortinet is scheduled to report Q2 2026 earnings after the market closes on Wednesday, July 29, with analysts expecting $0.75 EPS on $1.8862 billion in revenue.
• The company’s own guidance calls for $0.72 to $0.76 EPS for the quarter and $3.10 to $3.16 EPS for fiscal 2026, while its last quarter beat estimates on both earnings and revenue.
• Sentiment around FTNT is mixed: an Intel collaboration and several analyst price-target increases are positives, but the stock remains viewed as expensive ahead of earnings, and insiders have recently sold shares.

Fortinet (NASDAQ:FTNT - Get Free Report) is expected to post its Q2 2026 results after the market closes on Wednesday, July 29th. Analysts expect the company to post earnings of $0.75 per share and revenue of $1.8862 billion for the quarter. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Individuals can find conference call details on the company's upcoming Q2 2026 earning summary page for the latest details on the call scheduled for Wednesday, July 29, 2026 at 4:30 PM ET.

Fortinet (NASDAQ:FTNT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.73 billion. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, analysts expect Fortinet to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Fortinet Stock Performance

Shares of FTNT stock opened at $158.10 on Wednesday. The firm has a market cap of $115.83 billion, a price-to-earnings ratio of 61.04, a P/E/G ratio of 4.36 and a beta of 1.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.15. Fortinet has a 52 week low of $70.12 and a 52 week high of $170.35. The firm's 50-day simple moving average is $146.08 and its two-hundred day simple moving average is $105.08.

Key Stories Impacting Fortinet

Here are the key news stories impacting Fortinet this week:

• Positive Sentiment: Intel and Fortinet announced a collaboration to develop Fortinet’s next-generation Security Processor 6, with Fortinet becoming Intel Foundry’s first publicly named cybersecurity chip customer. The deal highlights demand for Fortinet’s hardware and could strengthen its supply chain and product roadmap. Intel (INTC) Lands Fortinet As First Named Cybersecurity Customer For Its Foundry
• Positive Sentiment: Wall Street analysts turned more constructive on Fortinet, with one upgrade and another raising the price target while maintaining a Hold rating. The revisions suggest confidence in Fortinet’s fundamentals, even if valuation remains a concern. This Fortinet Analyst Is No Longer Bearish; Here Are Top 4 Upgrades For Tuesday Fortinet Price Target Raised to $140 as Strong Fundamentals Clash With Stretch Valuation, Supporting a Hold Rating
• Neutral Sentiment: Cybersecurity stocks remain in favor as investors rotate away from some AI and semiconductor names, which supports Fortinet’s sector backdrop. Cybersecurity Stocks Are Holding Up as the AI Trade Starts to Crack (FTNT)
• Negative Sentiment: Despite the positive headlines, Fortinet is still seen as expensive by some analysts, and Morgan Stanley warned that lofty cybersecurity valuations could limit upside ahead of earnings. Cybersecurity Stocks' Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FTNT shares. Wall Street Zen raised Fortinet from a "hold" rating to a "buy" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $100.00 target price on shares of Fortinet in a research note on Thursday, May 7th. UBS Group upped their target price on Fortinet from $90.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Citigroup raised their price objective on shares of Fortinet from $90.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Finally, DZ Bank cut Fortinet from a "buy" rating to a "hold" rating and set a $125.00 price objective on the stock. in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-four have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $119.48.

Insider Transactions at Fortinet

In other news, VP Michael Xie sold 3,907 shares of the firm's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president directly owned 9,923,610 shares in the company, valued at $1,453,213,448.40. This trade represents a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO John Whittle sold 146,015 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the sale, the chief operating officer owned 94,724 shares of the company's stock, valued at approximately $12,163,508.84. This represents a 60.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 318,387 shares of company stock valued at $43,403,063. Insiders own 17.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wexford Capital LP bought a new position in Fortinet in the third quarter valued at about $25,000. Palisade Asset Management LLC bought a new position in Fortinet in the third quarter worth approximately $28,000. Quarry LP bought a new position in Fortinet in the third quarter worth approximately $33,000. Swiss RE Ltd. purchased a new position in shares of Fortinet during the 4th quarter worth $38,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Fortinet by 31.4% during the 4th quarter. GW&K Investment Management LLC now owns 515 shares of the software maker's stock worth $41,000 after acquiring an additional 123 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

About Fortinet

Fortinet, Inc NASDAQ: FTNT is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet's product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.

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